Trading Statement RARE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration Number: 2002/025247/06 Share Code: RAR ISIN: ZAE000180626 ("Rare" or "the Company") TRADING STATEMENT In accordance with paragraph 3.4(b) of the Listings Requirements of the JSE Limited, companies are required to inform shareholders as soon as there is a reasonable degree of certainty that the earnings of the company are likely to vary by more than 20% compared to the previous reporting period. Shareholders are hereby advised that the basic loss for the 12 month reporting period ended 30 June 2015 is expected to be between R7.0 million and R10.0 million being a decrease of between 56.9% and 69.8%, compared to the basic loss of R23.2 million for the previous comparable period ended 30 June 2014. The headline loss for the 12 month reporting period ended 30 June 2015 is expected to be between R9.0 million and R12.0 million being a decrease of between 48.2% and 61.1% , compared to the headline loss of R23.2 million for the previous comparable period ended 30 June 2014. The financial information in this trading statement has not been reviewed and reported on by the Company’s external auditors. By order of the Board Kliprivier 23 September 2015 Designated advisor: PSG Capital (Pty) Limited Date: 23/09/2015 12:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.